Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
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Survey: 90% of Millennials Report Carrying Non-Mortgage Debt
A new survey suggests that the vast majority of Millennials are not only in debt but that their total liabilities are now nearing six figures. About the survey results: According to a survey of 1,000 Millenials (defined as those born between 1981 and 1996) conducted by the Real Estate Witch, 90% of respondents said they had…
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United States Economy Gains 339,000 Jobs in May 2023
Defying expectations once again, the United States economy managed to add a significant number of jobs last month. About the May 2023 jobs report: According to the Bureau of Labor Statistics, the economy gained 339,000 jobs in May 2023. That’s far higher than the 190,000 figure that economists projected. What’s more, April’s jobs number was adjusted…
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Gallup Poll: Americans Say Now is a Bad Time to Buy a House
Following a tumultuous few years that’s included a global pandemic, a competitive housing market, rock-bottom interest rates, rapidly rising interest rates, inflation, and continued threat of a recession, a new poll from Gallup shows that a record number of Americans believe that now is a bad time to buy a home. According to the latest…
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United States Economy Added 236,000 Jobs in March 2023
Another monthly jobs report shows that, while the United States economy is beginning to cool, unemployment continues to reach near-record lows. According to the latest Bureau of Labor Statistics report, the U.S. added 236,000 jobs in March 2023, with unemployment ticking down to 3.5% from 3.6%. This is only slightly off the 238,000 jobs that…
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Credit Card Debt Increased by $180.3 Billion in 2022
After a year in 2021 that saw credit card debt declining during all four quarters, 2022 officially saw debt steadily increasing. According to new figures from WalletHub, consumer credit card debt increased by $85.8 billion during the fourth quarter of 2022. This marks the largest quarterly increase on record. It also brings 2022’s total to $180.3…
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United States Unemployment Rate Falls to 3.4%
Despite fears of a recession and high-profile layoffs in the tech sector, the United States continues to add thousands of jobs. According to the latest U.S. Bureau of Labor Statistics report, the economy added 517,000 in January. That marks the best result since July of last year when 586,000 jobs were added to payrolls. Moreover,…
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U.S. Economy Adds 223,000 Jobs in Final Month of 2022
As Americans settle into the new year, a snapshot of the United States economy from the final month of 2022 has arrived. Today, a new jobs report was released, bringing stronger-than-expected results. According to the latest Bureau of Labor Statistics report, the economy added 223,000 jobs in December 2022. That outpaces the 200,000 jobs that…
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U.S. Economy Added 263,000 Jobs in November 2022
Over the past several months, the United States economy has repeatedly offered mixed signals. Although gross domestic product results would suggest we’re headed for a recession, the Federal Reserve has been forced to hike interest rates in a bid to slow inflation. Now, the latest figures also show that the economy continues to create jobs…
